Apple is reportedly reassessing its strategy for Apple TV+ after investing a staggering $20 billion in original content, much of which has gone unnoticed by audiences. According to Bloomberg, discussions are taking place among Apple executive Eddy Cue and studio heads Zack Van Amburg and Jamie Erlicht about reducing production budgets and changing the platform’s image as a major spender in the industry.
The company has made significant investments in projects, such as the $250 million miniseries “Masters of Air,” which received only a lukewarm response upon its release. Additionally, Apple has allocated over $500 million for films by well-known directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite its ambitious spending, Apple TV+ holds a mere 0.2% share of TV viewership in the United States, garnering fewer views in a month than Netflix achieves in a single day. The platform has also faced challenges in attracting new subscribers.
Although streaming is not a primary focus for Apple, the company appears to be shifting away from its previous unlimited spending approach, as indicated by its hesitation to renew shows for third seasons, according to Bloomberg’s observations.
Currently, Apple TV+ remains the only major streaming service without an ad-supported tier, but this could change following the recent hiring of Joseph Cady, a former ad executive from NBCUniversal.